Ninja Van raises SG$3.5m in series A funding
March 3, 2015
Ninja Logistics, a last-kilometre logistics company in Singapore, has announced a SG$3.5m series A round of funding led by Monk’s Hill Ventures, with participation from regional corporates, including Insas Berhad. The investment will be used to accelerate existing product development and market expansion within south-east Asia.
Under the agreement, Kuo-Yi Lim of Monk’s Hill Ventures and Mei Chuen Thong of Insas Berhad will both join the board of Ninja Logistics.
Operating under the brand Ninja Van, the start-up seeks to solve the last-kilometre logistics problem via a multitude of strategic tie-ups and a technology stack revolving around reactive and distributed systems. The financing builds on a good first ten months for Ninja Van since inception, establishing itself as one of the top courier providers in Singapore, with more than 300 merchants on board including major large-format retailers and brands such as Lazada, Guardian, Pupsik Studio, Love Bonito and Agape Babies.
Ninja Van’s in-house technology and algorithm teams are actively innovating on several fronts, for example enabling more distribution methods and shorter delivery times.
“The last-mile fulfilment problem in south-east Asia has been exacerbated by the rapid rise of e-commerce – with parcel sizes varying significantly, larger shipping volumes, cyclical demand and wider distribution requirements,” said Lai Chang Wen, CEO and co-founder of Ninja Logistics. “We firmly believe that optimisation of logistics in the region revolves around a routing software layer that controls legacy assets while concurrently building our own hardware, infrastructure and assets if necessary to enable the new age of logistics.
Kuo-Yi Lim, partner at Monk’s Hill Ventures, added: "Our investment in Ninja Van reflects our belief in the team, their innovative approach and execution ability. The fast-growing online e-commerce spend and the current state of last-mile logistics in the metro cities of south-east Asia present a very attractive market opportunity. Ninja Van is well-placed to address that and we are excited to be working with the team and fellow investors in this effort."